I take my words back: following Jim’s comment below it appears that the document wasn’t completely removed rather it was just formatted into a 50 pages document. You can find it here: http://www.cftc.gov/ucm/groups/public/@lrfederalregister/documents/file/2010-456a.pdf or check the original 193 pages version below. Jim, thanks for pointing this out.
Hi Jim, actually it is: the new document you point at is 50 pages long abridged version of the original 193 pages document.
Hi Michael,
I can’t claim to have read every word in both versions of the proposals, but as I pointed out in my post, I don’t believe the new document is abridged, it just uses 3 columns of smaller print instead of the single column in the original.
If anyone would like to check this for themselves, both versions are now available for download from the above link.
Jim
this proposal is down right atrocious as this market is perfectly efficient !
judging from the comments, message board responses, emails, and conversations i have had, this tweak in the system is perceived as a very very significant tweak!
Americans are getting substantially frustrated and at the verge of rioting with all the restrictions and limitations on our so called ‘Free markets”…i mean come on ! if its not broken, what the hell are you trying to fix???
i have already started searching for possible alternatives around this 10:1 proposal if it is passed, and by the look of things it will not be good for the US market, as many many investors would agree!!..
how about even a 50:1???
Hi Michael,
This is not in fact quite as sinister as it sounds. For full detail please see:
http://trading-gurus.com/new-location-for-cftc-10-to-1-leverage-proposals/
Cheers,
Jim